The global video surveillance & VSaaS market is expected to reach USD 48.95 billion by 2020. Growing number of security concerns on a global level coupled with increased investment in sophisticated surveillance network development is expected to drive the market.

The global video surveillance & VSaaS market is expected to reach USD 48.95 billion by 2020. Growing number of security concerns on a global level coupled with increased investment in sophisticated surveillance network development is expected to drive the market. Increased demand for traffic surveillance and intrusion detection is also expected to propel market growth over the next six years.

Technological advancement has led to the development of improved surveillance cameras and related devices. Declining IT costs and centralized data management are expected to positively impact the video surveillance & VSaaS market. Privacy concerns associated with public surveillance may restrain market growth. Implementing big data analytics solutions is expected to provide viable growth opportunities to companies operating in the market. Mobile video surveillance allows real-time data viewing, which presents growth potential to the video surveillance market.

IP-based systems are expected to gain market share over the forecast period, which can be attributed to benefits such as superior image resolution and integrated analytics engines. Demand for analog systems is expected to remain robust in the price-sensitive consumer segment.

Hardware accounted for majority of the market share in 2013, and is expected to remain the leading component segment over the forecast period. Key hardware products include cameras, recorders and storage devices; need for efficient security in public venues and sporting events is expected to drive global surveillance cameras demand. The services segment that includes hosted, managed, and hybrid services is expected to witness high growth over the next six years.

Transportation and retail are expected to remain the major application segments over the forecast period. Need for traffic regulation and controlling theft and vandalism activities in public transport are expected to drive market growth. Video surveillance proves effective for deterring crime and curbing business losses, which is expected to fuel the retail segment.

North America was the largest regional market in 2013, and is characterized by the presence of several industry participants. Asia Pacific is expected to gain market share over the forecast period; this is mainly due to growing installation of surveillance devices in China and India, along with increased infrastructure spending in the region.

Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.